Norinchukin Bank The trimmed its holdings in shares of United Technologies Corporation (NYSE:UTX) by 14.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,668 shares of the conglomerate’s stock after selling 49,453 shares during the quarter. United Technologies accounts for about 0.7% of Norinchukin Bank The’s portfolio, making the stock its 18th largest position. Norinchukin Bank The’s holdings in United Technologies were worth $35,494,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Alexandria Capital LLC grew its stake in United Technologies by 0.3% during the 2nd quarter. Alexandria Capital LLC now owns 1,078 shares of the conglomerate’s stock worth $132,000 after buying an additional 3 shares during the last quarter. Jackson Grant Investment Advisers Inc. grew its stake in United Technologies by 0.4% during the 2nd quarter. Jackson Grant Investment Advisers Inc. now owns 1,788 shares of the conglomerate’s stock worth $218,000 after buying an additional 8 shares during the last quarter. Kissinger Financial Services LLC grew its stake in United Technologies by 0.5% during the 2nd quarter. Kissinger Financial Services LLC now owns 2,095 shares of the conglomerate’s stock worth $256,000 after buying an additional 11 shares during the last quarter. Baystate Wealth Management LLC grew its stake in United Technologies by 0.5% during the 2nd quarter. Baystate Wealth Management LLC now owns 2,262 shares of the conglomerate’s stock worth $279,000 after buying an additional 11 shares during the last quarter. Finally, Vigilant Capital Management LLC grew its stake in United Technologies by 0.7% during the 2nd quarter. Vigilant Capital Management LLC now owns 1,891 shares of the conglomerate’s stock worth $231,000 after buying an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.
Several research analysts recently weighed in on the company. Vertical Research downgraded United Technologies from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Tuesday, September 5th. Deutsche Bank lowered their price target on United Technologies from $125.00 to $120.00 and set a “hold” rating for the company in a research report on Wednesday, September 6th. Cowen reaffirmed a “hold” rating and set a $120.00 price target on shares of United Technologies in a research report on Friday, November 10th. Bank of America reaffirmed a “buy” rating and set a $140.00 price target on shares of United Technologies in a research report on Wednesday, September 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $126.00 price target on shares of United Technologies in a research report on Tuesday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. United Technologies has a consensus rating of “Hold” and a consensus target price of $125.15.
Shares of United Technologies Corporation (NYSE:UTX) traded up $0.91 on Thursday, reaching $121.20. The company’s stock had a trading volume of 2,607,400 shares, compared to its average volume of 3,036,120. The firm has a market cap of $96,059.98, a PE ratio of 18.17, a P/E/G ratio of 2.17 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.91 and a debt-to-equity ratio of 0.76. United Technologies Corporation has a 12 month low of $106.85 and a 12 month high of $124.79.
United Technologies (NYSE:UTX) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $1.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.05. The business had revenue of $15.06 billion during the quarter, compared to analysts’ expectations of $14.99 billion. United Technologies had a return on equity of 17.66% and a net margin of 8.79%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 EPS. equities research analysts predict that United Technologies Corporation will post 6.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 10th. Stockholders of record on Friday, November 17th will be issued a $0.70 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.80 annualized dividend and a dividend yield of 2.31%. United Technologies’s dividend payout ratio (DPR) is presently 43.41%.
In other news, EVP Michael R. Dumais sold 2,986 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $120.98, for a total value of $361,246.28. Following the completion of the transaction, the executive vice president now owns 27,548 shares of the company’s stock, valued at approximately $3,332,757.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Akhil Johri sold 5,979 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $121.03, for a total value of $723,638.37. Following the completion of the transaction, the vice president now directly owns 23,295 shares of the company’s stock, valued at approximately $2,819,393.85. The disclosure for this sale can be found here. In the last three months, insiders sold 9,792 shares of company stock valued at $1,182,520. Insiders own 0.16% of the company’s stock.
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About United Technologies
United Technologies Corporation is engaged in providing high technology products and services to the building systems and aerospace industries around the world. The Company operates through four segments: Otis; UTC Climate, Controls & Security; Pratt & Whitney, and UTC Aerospace Systems. Otis operates as an elevator and escalator manufacturing, installation and service company.
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